#BTC

Today (March 11) Gold Market Briefing (as of 21:00)

International Gold Price (London Gold Spot): $5,174.81/oz, -21.89, -0.42%
Domestic Gold Price (Gold T+D): ¥1,148/gram, -4.16, -0.36%
Shanghai Gold Continuous Contract: ¥1,148.86/gram, -6.86, -0.59%

1. Today’s Market Overview: Volatile at high levels, awaiting CPI data

- Intraday Trend: Testing lows and rebounding → rallying then retreating, oscillating around $5,200/oz
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- Key Event: Tonight at 21:30 US February CPI, market is highly cautious, trading volume contracts
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- Driving Logic:
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- Positive Factors: Central bank continued gold purchases, Middle East safe-haven demand, rate cut expectations
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- Negative Factors: US dollar rebound, profit-taking, oil price retreat
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2. Physical Gold Prices (Retail/Investment)

- Gold Jewelry: Chow Sang Sang ¥1,600/gram; Chow Tai Fook / Chow Tai Seng ¥1,599/gram; Lao Feng Xiang ¥1,593/gram
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- Bank Investment Gold Bars: ICBC ¥1,174.80, CCB ¥1,173.10, BOC ¥1,174.19/gram

3. Key Influencing Factors

1. Tonight’s US CPI (Largest Variable)
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- Expectation: Core CPI month-on-month +0.2%
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- If below expectations: Rate cut expectations increase → Gold prices likely to rise
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- If above expectations: Rate cut delayed → Gold prices face pressure
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2. Central Bank Gold Purchases: The People’s Bank of China has been increasing holdings for several months, providing medium- to long-term support
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3. Geopolitical and USD Factors: Middle East tensions, US dollar index, US Treasury yields influence short-term movements

4. Technical Levels (International Gold)

- Support: 5130–5150, 5100
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- Resistance: 5200, 5230, 5250